Here at WatchCentre, we offer you 2 options to purchase one of our timepieces on finance. We offer finance over a period ranging from 12 months to 60 months, with the interest charged at 7.9%, alternatively, you can spread the cost over a period of up to 12 months completely interest-free; using Novuna Personal Finance.
Please note that in order to be eligible for consideration for finance, you must:
Be 18 or over
Have your own personal bank account from which a direct debit can be taken.
Make direct payments by direct debit
Be a U.K. resident (minimum of 12 months)
Be able to provide acceptable proof of address and proof of signature
Be purchasing the product for personal, non-business use.
We would require a minimum 10% deposit for your chosen watch. In order to set up the credit, you would have to come in person to our gallery, we cannot set this up over the phone. You would need to bring a photo I.D. with you, either a passport or a driving license. A valid debit card where the monthly payments would be debited from. We would also require an original bill such as a utility bill or official government letter from HMRC etc. We advise you to bring at least the last 3 months’ worth of bank statements as this may also be required.
We can take the deposit by cash or credit/debit card, we do not accept cheques. You can leave a larger deposit than 10% of the cost of the item if you wish to do so; this would decrease your monthly instalments as well as the amount of interest charged (if applicable).
Once the agreement has been completed and signed, there is a Cooling-Off Period of 14 days; in which the piece must be kept at 74 New Bond Street. After the cooling-off period has ended, collection can be made in-store or secure delivery can be arranged.
In the latter example your monthly instalment would be £699.30, if you multiply that by 12, you would get £8391.60, which would be the total amount you would be paying back to Novuna Personal Finance. As you can see, the amount paid £8391.60 less the amount borrowed £8055.00 is £336.60 this is the amount incurred over a 12-month term.
As you can see the larger your initial deposit is, the less your monthly payments work out to be. If the credit application is referred, this means that Novuna Personal Finance would require further information before a decision can be made; we will call them while you are in the store and they may need to speak with you for a few minutes.
If the credit application is declined, we will print off a decline letter for you but we will not be given a reason as to why it has been declined. On the decline letter, there will be information on how to contact Novuna Personal Finance regarding the decision.
You are able to make overpayments on your monthly payments, but if you wish to pay off the balance in full before the 6 or 12-month agreement comes to an end then you can call Novuna Personal Finance, there will be an early repayment fee of an additional 30 days interest.
If you require any more information or have any questions please contact us on 0207 491 0042 or alternatively you can e-mail us at [email protected] . Finance applications will only be processed Monday to Friday.